Former President Donald Trump is no stranger to criticizing social media companies, including the likes of Twitter, now known as X, and Facebook. Multiple social media platforms banned the former president after the Jan. 6 attack on the U.S. Capitol and his potential role in the events.
Here's a look back at past criticism of Facebook from Trump and how investing and ignoring his warning could have turned into a sound investment.
What Happened: Former President Donald Trump surprised some people when he shared he was against banning TikTok. The comments from Trump could be related to his dislike of Facebook and Mark Zuckerberg.
"If you get rid of TikTok, Facebook and Zuckerschmuck will double their business," Trump posted on his Truth Social account in March 2024. "I don't want Facebook, who cheated in the last Election, doing better. They are a true Enemy of the People!"
While the comments could have been a surprise given Trump previously supported a ban of TikTok, they come with a history of negative comments against Facebook.
Over the years, Trump has used social media platforms to lash out at individuals and companies, including on X, where he has over 87 million followers.
Before a ban by social media networks in 2021, Trump was critical of Meta Platforms META-owned Facebook.
Trump accused Facebook of censoring him and favoring other candidates.
"Facebook was always anti-Trump. The Networks were always anti-Trump, hence, Fake News, @nytimes (apologized) & @WaPo were anti-Trump. Collusion?" a Trump tweet on Sept. 27, 2017 read.
On the same day, Trump went on to say that while the media was anti-Trump, the people were pro-Trump.
The tweets from Trump prompted a response from Meta Platforms CEO Mark Zuckerberg.
"Trump says Facebook is against him. Liberals say we helped Trump. Both sides are upset about ideas and content they don't like. That's what running a platform for all ideas looks like," Zuckerberg said.
Zuckerberg went on to say that more people had a voice in the 2016 election than ever before, with it being the first U.S. presidential election that saw candidates utilize the internet as a primary tool for communication.
The posts from Trump wouldn't be the last time he would make accusations against the Zuckerberg-owned company. In October 2017, he lashed out at Facebook once again.
"Crooked Hillary Clinton spent hundreds of millions of dollars more on Presidential Election than I did. Facebook was on her side, not mine!" Trump tweeted on Oct. 21, 2017.
Trump was banned by Facebook and Instagram in January 2021 and was welcomed back to the platforms in February 2024. He was also welcomed back to X thanks to the purchase of the platform by Elon Musk.
Since his reinstatement on X, Trump has tweeted just once. Meanwhile, after regaining access to Facebook, Trump has been notably more active on the platform, engaging with his more than 34 million followers.
Related Link: Trump Tried To Get Elon Musk To Buy Truth Social: New Report Highlights Former President's Pitch
Investing $1,000 in Meta Platforms Stock: Although Trump has arguably had valid points when critiquing companies on certain occasions, many of them experienced periods of continued growth following his remarks.
Benzinga previously shared that investing in Apple, Amazon and Bitcoin after Trump's critical posts about each one ended up being winning investments.
The same can be said for an investment in Meta Platforms.
An investor could have purchased 6.03 shares of Meta Platforms for $1,000 at the open on Sept. 27, 2017, after Trump's first critical tweet.
The $1,000 investment would be worth $3,204.88 today, based on a price of $531.49 for Meta Platforms shares at the time of writing. This represents a gain of 220.5% over the last six and a half years.
For comparison, the same $1,000 invested in the SPDR S&P 500 ETF Trust, which tracks the S&P 500 Index, would be up 107.5% and worth $2,074.88 today.
This means an investment in Meta Platforms when Trump criticized the company for being anti-Trump outperformed the broader U.S. stock market.
This article was previously published by Benzinga and has been updated.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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